Overview
- Introduces insider insight on Abenomics reforms, alluding to the Ito Review in connection with value creation in Japan, including the rationale of the Review’s ROE 8% guideline
- Provides both empirical research as quantitative evidence and global investor surveys as qualitative evidence of Japan’s corporate governance discount which has rarely been available so far]
- Proposes a concrete model of integration of ESG and ROE for the first time, with case studies and empirical research
- Shares breakthrough analysis of an original global investor survey conducted over a 10-year period
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Table of contents (7 chapters)
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Front Matter
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Back Matter
Keywords
About this book
This is the first book to furnish a root cause of the low valuation of Japanese listed companies by using, as qualitative evidence, unique global investor surveys, which are rarely available for Japanese companies. Also contained in this book as quantitative evidence is empirical research with regression analysis implying a positive correlation between corporate governance and value creation in Japan.
The author explains the rationale underlying the suggestion of the Ito Review on return on equity (ROE) 8% guidance, an almost 50% discounted valuation of the cash held by Japanese companies, corporate value and ROE, equity spread as a key performance indicator for value creation, an optimal dividend policy based on optimal capital structure, risk-adjusted hurdle rates for value-creative investment criteria, and the synchronization of environmental, social, and governance with equity spread.
Illustrated with relevant statistics, evidence of shareholders’ voices, case studies, and empirical research, the book is highly recommended for readers who seek qualitative and quantitative evidence of Japan’s problems and potential prescriptions in connection with value creation.
“This book empirically proves the relationship between non-financial capitals defined by IIRC and corporate value, and provides a convincing method to unlock corporate value in Japan via Abenomics corporate governance reforms. A must read!”
Richard S. Howitt, Chief Executive Officer, International Integrated Reporting Council (IIRC)
“This book addresses emerging issues such as the "Power of Intangibles" in addition to IMA-defined "Equity Spread" as a gauge for value creation from the viewpoint of management accounting. It is highly recommended for finance and accounting professionals.”
Jeffrey C. Thomson, CMA, CAE. President and CEO, Institute of Management Accountants (IMA)
Reviews
Authors and Affiliations
About the author
Bibliographic Information
Book Title: Corporate Governance and Value Creation in Japan
Book Subtitle: Prescriptions for Boosting ROE
Authors: Ryohei Yanagi
DOI: https://doi.org/10.1007/978-981-10-8503-1
Publisher: Springer Singapore
eBook Packages: Business and Management, Business and Management (R0)
Copyright Information: Springer Nature Singapore Pte Ltd. 2018
Hardcover ISBN: 978-981-10-8502-4Published: 25 April 2018
Softcover ISBN: 978-981-13-4171-7Published: 09 February 2019
eBook ISBN: 978-981-10-8503-1Published: 16 April 2018
Edition Number: 1
Number of Pages: XIV, 240
Number of Illustrations: 3 b/w illustrations, 87 illustrations in colour
Topics: Corporate Governance, Business Finance, Corporate Finance, Investments and Securities
Industry Sectors: Finance, Business & Banking